US Premarket: Boeing, Nielsen Holdings and other stocks making biggest moves

Anaplan (PLAN)

Anaplan stock jumped 28.3% in the premarket after the company agreed to be bought out by private-equity firm Thomas Bravo for $10.7 billion or $66 per share in cash. On Friday, the company’s stock had closed at $50.59 per share.

Boeing (BA)

Boeing shared plunged 5.8% in the premarket. A Boeing 737-800 jet run by China Eastern Airlines crashed in the mountains of southern China with 132 people aboard, with no immediate information of causalities.

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General Motors (GM)

GM acquired Softbank’s stake worth $2.1 billion in its Cruise driverless-car unit. It also announced an additional investment of $1.35 billion in cruise, replacing funds that Softbank had pledged to provide. GM initially lost over 1% in the premarket trading but then recovered those losses.

Nielsen Holdings (NLSN)

Shares of Nielsen holdings tanked 18.6% in premarket trading after it declined a takeover bid worth $9.13 billion or $25.40 per share, from a private-equity consortium. According to Nielsen, the bid significantly undervalues the company, best known for its TV ratings.

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BlackBerry (BB)

BlackBerry’s stock added 2.1% in the premarket after RBC upgraded it to “sector perform” from “underperform,” saying the stock’s price is now more aligned with its fundamentals.

Alleghany (Y)

Berkshire Hathaway (BRK.B) is acquiring the insurance company for $11.5 billion or $848.02 per share in consideration. Alleghany’s share closed at $676.75 per share on Friday. Alleghany will operate as an independent subsidiary of Berkshire.

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Manchester United (MANU)

Manchester United surged 1.6% in premarket trading after Deutsche Bank upgraded the soccer team’s shares to “buy” from “hold,” saying the team is undervalued compared to its peers in the sports and live events category.

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SAP (SAP)

SAP’s Chief Financial Officer Luka Mucic is exiting the German business software company at the end of March 2023. The stock tumbled over 2% in premarket trading.